Retail Sales Gain for First Time in Three Months, Jobless Claims Dip

Retail sales rise 0.3% in February, the report's first gain in three months, and jobless claims dip to 315,000. OppenheimerFunds chief economist Jerry Webman tells TheStreet's Joe Deaux jobless claims this week look solid, but he warns against getting too excited about retail sales. When asked if this signals the ebbing of a weather-related drag, Webman says it could be, and he expects the economy to pick up this spring. Webman also says the data was "surprisingly" strong through this harsh winter.

President Trump's move Thursday to cancel his meeting with North Korea leader Kim Jong Un sent the stock market into a "tizzy," according to TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer.